Eric Trump's support has led to a rebound in ETH prices, but it still lags behind its peers
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On February 4, during the Asian early session, the price of Ethereum rose about 11% to $2,900, followed by a slight pullback.
After U.S. President Donald Trump imposed trade tariffs on Canada, Mexico, and China, cryptocurrency prices plummeted to $2,260 on Monday, and are currently in a recovery phase. Some tariffs have now been suspended, and the cryptocurrency market is beginning to recover.
Eric Trump's remarks also drove up ETH prices, as he stated on X: "In my opinion, now is a good time to add ETH." However, most respondents mocked the comment or posted tribal FUD.
"Trump destroyed ETH, and then his son saved it. What timeline are we on now?" Ethereum educator Anthony Sassano commented.
Ethereum's Dilemma Continues
Despite this, Ethereum has not regained the $3,000 mark, while Bitcoin briefly touched the six-figure area, reaching an intraday high of $102,600 in late trading on Monday.
According to data from Tradingview, this means the ETH/BTC ratio remains at its lowest level since December 2020, around 0.028. Over the past two and a half years, the price of Ethereum has been declining in BTC terms, as market sentiment remains low.
Additionally, the Trump family's DeFi project World Liberty Finance is building on ETH and continues to accumulate assets. According to data from Lookonchain, it has purchased another 1,826 ETH, worth about $5 million.
The report noted that this DeFi platform has purchased a total of 61,114 ETH at an average price of $3,354, valued at $205 million, incurring a loss of $31 million.
Altcoin Recovery is Faster
Many altcoins are recovering much better than Ethereum. For example, XRP is up over 20% to $2.75, while Dogecoin (DOGE) rebounded 22% to $0.29.
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